Information from Cell Network's general shareholders' meetings

Information from Cell Network's general shareholders' meetings At Cell Network's ordinary general shareholders' meeting on 10 May, CEO Niklas Flyborg commented on the position and future prospects of the company. "The winners in our industry are suppliers with customer relations lasting many years, good references and the right positioning. Cell Network is one such company. It distinguishes us from many Internet companies with whom we are often erroneously compared. We are a company with a good history before the extremes of the year 2000. We are a company which can be counted on in the future," said Niklas Flyborg. At the ordinary general shareholders' meeting of Cell Network AB on 10 May 200, the Board was re-elected in its entirety. The Board of Directors thus consists of Lars O Pettersson (Chairman), Jan Carlzon, Niklas Flyborg (CEO), Thomas Heilmann, Maria Lilja and Rune Rinnan. At the extraordinary general shareholders' meeting that immediately followed, the following were approved: * the Board's decision of 24 April 2001, for a new issue of shares with preferential rights for the shareholders to subscribe to one (1) new share for each currently owned share at a share price of SEK three (3). If preferential rights are fully exercised, the number of shares will increase by 93,530,164, the share capital by SEK 187,060,328 and the company will gain approx. SEK 280,000,000 before issue costs. The record date is 28 May 2001, and the subscription period is 28 May - 15 June 2001. It is anticipated that a full prospectus will be published on 23 May 2001. * private placements to the vendors of acquired companies in order to meet agreed obligations to provide additional purchase sums. Altogether, these issues include 10,875,825 shares and an increase in the share capital of SEK 21,751,650. * the Board's proposal for a global options programme of a maximum of 1,300,000 shares for the benefit of key employees. * the subsidiary Cell Network Germany GmbH's transfer of 82% of the shares in Cell Consulting AG to certain key people through the CEO of the company, Michael Dirkes. Since the start of the year, Cell Consulting has been running a management consultancy operation in Germany and employs some 60 people. Cell Network is financing the start- up stage through a convertible loan of a maximum of SEK 100 million, which following conversion will give Cell Network the majority in the company. For more information: Arvid Liepe, Dir. Investor Relations, Cell Network, phone: +46 (0)8 5220 4053, +46 (0)709 565185 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/11/20010511BIT00190/bit0001.doc http://www.bit.se/bitonline/2001/05/11/20010511BIT00190/bit0001.pdf